Boca, Alessandra Del; Fratianni, Michele; Spinelli, Franco - Dipartimento di Economia e Management, Università … - 2010
The theme of this paper is whether there was a textbook-like Phillips curve in post- WWII Italy. We estimate a standard model of the relationship between inflation and the level of real economic activity over the 1949 to 1998 period and find no evidence of a significant and positive feedback...